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The Grandest Hotel in All the Lower East Side

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With the Thompson LES on the way and about a dozen more boutique hotels being whispered about on the Lower East Side rumor mill (not to mention THOR and Blue Moon), the immigrant stronghold of old may turn into the transient playground of the future. Now, word of yet another hotel. The site is 328 Grand Street in the BelDel, between Orchard and Ludlow Streets, the current home of a shuttered store. This appears to be the building mentioned in Rumblings & Bumblings a few weeks ago, when the rumor was apartments. Not so. A tipster passes along a link to a building permit for the site, which calls for a new seven-story hotel with 10 guest rooms. Property Shark shows that a man named Henry Lam purchased the building for $3.19 million last year, and the spot has plenty of unused FAR going for it. Henry?put us down for New Year's '09, would ya?
· Rumblings & Bumblings Responses: Hell's Kitchen Pond Going Bye-Bye, 20 Stories in the BelDel? [Curbed]